‘Reality Always Winds Up Having the Last Word’: Why GDP is not an adequate measure of economic well-being

First and foremost, GDP is an inadequate measure of well-being because it was never intended to be a measure of economic well-being.  A new report by Joesph Stiglitz, Amartya Sen, and Jean-Paul Fitoussi recently analyzed GDP as a measurement of well being. Perhaps the most striking conclusion was that, “One of the reasons people may perceive […]